Liz Truss said on Thursday she was resigning as British prime minister, brought down by her economic programme that sent shock waves through the markets and divided her Conservative Party six weeks after she was appointed.

Speaking outside her No 10 Downing Street office, Truss accepted she could not deliver the promises she had made when she ran for party leadership, having lost the faith of its members.

“I recognise though, given the situation, I cannot deliver the mandate on which I was elected by the party. I have therefore spoken to the king to notify him that I am resigning as leader of the Conservative Party,” she said.

“This morning I met the chair of the 1922 Committee, Sir Graham Brady. We've agreed there will be a leadership election to be completed within the next week. This will ensure that we remain on a path to deliver our fiscal plans and maintain our country's economic stability and national security.”

Reuters